- SingPost (SGX:S08)'s 1QFY26 revenue fell 23.8% y-o-y to S$162.3m and operating profit sank 60% y-o-y to S$3.4m on lower volumes and intense competition.
- Management said a decision on the sale of SingPost Centre will need to wait for its new strategy. A new CEO is also currently being sourced.
Downgrade To HOLD with lower target price
- - Read this at SGinvestors.io -
- We cut FY26/27E earnings by 36% and 35%, respectively, and downgrade SingPost to HOLD as near-term earnings are unable to justify its current valuations and it lacks immediate catalysts, in our view.
New board reset and new strategy
- - Read this at SGinvestors.io -
- It is also looking for a new CEO who will then be involved in charting the new strategy. We believe this will likely take at least 3-6 months.
Monetisation phase likely over
- Read more at SGinvestors.io.
Above is an excerpt from a report by Maybank Research.
Clients of Maybank Securities may be the first to access the full PDF report @ https://www.maybanktrade.com.sg/.
Jarick Seet Maybank Research | https://www.maybanktrade.com.sg/ 2025-08-24
Read also Maybank's most recent report:
2026-03-09 Singapore Post - Ceasing Coverage.
Previous report by Maybank:
2025-11-11 Singapore Post - Still Awaiting Revised Strategy.
Price targets by other brokers at SingPost Target Prices.
Listing of research reports at SingPost Analyst Reports.
Relevant links:
SingPost Share Price History,
SingPost Announcements,
SingPost Dividend Payout Dates & Corporate Actions,
SingPost News
